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. they seem desperate to do that. plenty of liberals say, go over the cliff. big cuts in the pentagon and big tax hikes. the white house, from all indications that i've seen, they don't want that to happen. they are scared of what could happen to the markets. >> why aren't they dalg dealing with boehner? dana, be go ahead. jumpb in here. >> i think they won their negotiating power once boehner last week failed. as dana pushed out, the only thing that can get boehner is to do something. >> reporter: i think that you're right when i said that democrats don't think that the president will have much political damage. that does seem to be coming more from democrats here in congress than in the white house. democrats here in congress feel that it's a win-win for them politically. the one thing i will tell you very quickly, the pushback on this narrative that i heard from senate republican leader in the hallway. he said, do you remember who the speaker was during the hoover administration? i said, no. he said, that's my point. nobody will remember who the speaker was if ge into a recession but it's
part of some last-second deal. hit the defense department. but the pentagon's real problem is not those cuts, but the ones that are going to be coming over the next decade. we talked to military contractors, top officials at the pentagon. they see a long period of downward decline. that after the war in afghanistan, there's going to be a period of austerity. they're calling it -- they have a term around the pentagon, a very graphic self-amputation as they cut back over the years. and this was one of the reasons that president obama had, at the top of his short list, the former republican senator, still a republican, chuck hagel of nebraska. he's somebody who's talked about the pentagon as being bloated, had very specific ideas about how to cut it. but mike, sam, the table, we're hearing that that trial balloon has been popped. that senator hagel has a possibility for secretary of defense, has really lost a lot of altitude. and what they discovered was, there's not a natural constituency for him. republicans, as you guys know, have fought with him over the years. he was against the war i
game is down right nasty. >>> tributes from the pentagon, white house, and gulf war buddies after the passing of stormin general norman schwarzkopf. and teachers learning how to shoot in case a gunman walks into their classroom. the man offering lessons were free. "starting point" begins right now. friday, december 28th. and our starting point, the pace in's economy and your take home pay on the chopping block. four days remain before the u.s. goes over the edge. that means tax hikes and spending cuts that could trigger another recession. congressional leaders will meet today at 3:00 p.m. eastern time. the full house not even expected to return to work until sunday. here is the guest list for today's showdown. the president, vice president biden, senate majority leader harry reid and house minority leader nancy pelosi on the democratic side. house speaker john boehner, mitch mcconnell representing the republicans. brianna keilar live from washington. what do we expect to happen today? any new offers from the president or house speaker? >> we don't know. right now, all eyes on the
the impact on the military overall will be, quote, very serious. >> the pentagon and the departments are already in financial trouble, because there has already been a $480 billion cut that is being applied right now as we speak. to take another cut on top of that is devastating. >> reporter: it's not just the military itself that will take a hit, also the defense industry, defense contractors, private companies that do work for the pentagon. one democratic congressman in northern virginia whose district maybe hit the hardest by all of this says it could mean layoffs. >> the large defense contractors will probably be okay, they have significant cash reserves, most of them. the smaller contractors would have trouble getting their lines of credit extended, trouble keeping their employees, if they can't be assured of continued employment. >> reporter: congressman moran says if we go over the cliff, which he thinks we will, then the impact and severity of the automatic defense spending cuts depend how long they are in place into the new year before congress finally fixes this fiscal clif
that preparation before running into the pentagon and he has done a is he person job. very tough job. even he said that we face some dire devastating times ahead if sequestration goes ahead. chuck hagel seems to think that we can cut, quote, more the bloat out of the pentagon. there probably is some over there. but you need to understand the system right, given of the republican opposition i don't know that the president gets a lot of credit for bipartisanship. more likely the cuts that they agree on. lt. colonel bob maginnis thanks so much we appreciate it. >> thanks, dave. >> small businesses set to take big hits in 2013. that could take an effect on your wallet. we'll explain next. my pet chicken just saved my life. how this hero bird came to the rescue of an entire family. and that's not even the coolest part of this story. i'm sticking around. mine was earned off vietnam in 1968. over the south pacific in 1943. i got mine in iraq, 2003. usaa auto insurance is often handed down from generation to generation. because offers a superior level of protection, and because usaa's commitment to serve
at the pentagon. barba barbara, a great guy, but really great in front of the camera and able to use visuals of the first war to really explain to the american people what was going on. >> well, explain to the american people, and he also knew that saddam hussein and his iraqi generals were watching those press briefings. president obama today remembering norman schwarzkopf as an american original. a limited mission, get the iraqis out of kuwait, get the war done, go home. and he accomplish thad in des rt storm, commanding more than 700,000 coalition forces, more than 500,000 americans and an air and grown campaign that lasted barely 100 hours, and then it was done. his own chief, former president george h.w. bush, issuing a statement from his hospital bed in houston, saying "general norm schwarz cough, to me, epit to mized the duty, service, country creed that has defended our k e freedom and seen this nation through our most trying international crises, and more than that, he was a good and decent man." that from former president george h.w. bush. he is remembered for his fiery temper, bu
over its price. but lockheed and the pentagon have come to terms to buy another round of the jets for nearly $4 billion. morgan stanley calls the f-35 the single most important investment debate over lockheed stock. second, cash will be king. as defense spending slows, analysts say many defense companies will reduce share buyback programs and conservative capital. and look to international customers to make up for lost business at home. third, it's a bird, it's a plane, it's big brother. as criticism rises over the use of drone strikes by the obama administration, look to see companies launching drone war at home for deals to build unmanned aircraft for domestic use. the faa says there could be 30,000 uavs in u.s. skies by 2020. the teal group says domestic drones could be worth $89 billion over ten years, as everyone from homeland security to tmz wants permission to use them. >>> let's get some more insight on the defense skprkt how to play it as the fiscal cliff deadline grows closer. howard rubel is with jeffries. great to speak with you. and i guess key to understanding the im
Search Results 0 to 6 of about 7

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